Kickstart4
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Activity: 67
Merit: 10
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September 03, 2014, 07:03:01 PM |
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Kudos to the guys. They are helping to maintain bitcoin value so much
I wish I had miners like that!
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johncarpe64
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September 04, 2014, 04:35:24 AM |
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Ok, nice, but how much do they spend? In the article it just talks about $60000 in electricity. If they spend that much then they will likely end up having to turn off the miners within a few months. That comes out to 30% of the mining revenue (to be paid for electricity) and with 20% difficulty increases the cost of electricity will exceed the bitcoin mined in 7 difficulty increases. And that's just one of the costs. Then you have to take into account the investment in hardware, the rent they pay, the opportunity costs of not working in another place, taxes, etc. Rent in data centers is usually a small expense when compared to electricity, there is no reason for this to be a major expense. The hardware is a "capital expense" and is generally measured differentially then current expenses (such as the expenses required to keep the machines running).
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QuestionAuthority
Legendary
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Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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September 04, 2014, 04:40:17 AM |
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That first image looks like BFL's back room where they test the miners (for a year) before shipment. lol
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Hashbender
Newbie
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Activity: 51
Merit: 0
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September 04, 2014, 04:52:00 AM |
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That is freakingly amazing.... If i could just mine 1k in bitcoin a month, i'd probably already have set a foundation around my place. I've seen good investments go 2x 3x even 9x already....
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validium
Sr. Member
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Activity: 350
Merit: 250
Decentralized thinking
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September 04, 2014, 09:34:48 AM |
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THey will be very very very rich in a decade, people has no perspective.
More like 5 or less years from now
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pajrinn
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September 09, 2014, 05:09:39 AM |
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it's my dream, how I get to be like that may someday be a success like that haha everyone dreaming this yes I have the same expectations like you
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Jybrael
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September 09, 2014, 04:06:54 PM |
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Well for now they are getting all the benefit but think about it as stronger and stronger ASIC's come out and the difficulty increases..they will begin to lose a lot of the money that they are making unless they upgrade.
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Madness
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September 09, 2014, 04:18:30 PM |
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no electricity bell ?
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cyberpinoy
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September 09, 2014, 05:42:12 PM |
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WOW, this is amazing! The huge electricity bill, the terrible noise and this: Now I can understand why mining is not for everyone. Ahhh now I understand why i dont overclock my machines HAHAHA
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leannemckim46
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September 10, 2014, 02:01:26 AM |
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WOW, this is amazing! The huge electricity bill, the terrible noise and this: Now I can understand why mining is not for everyone. Ahhh now I understand why i dont overclock my machines HAHAHA Overclocking a miner can easily be reversed if it is decided that the efficiency is not an appropriate level for the miner. Granted it may damage the machine somewhat but miners have such short profitable lives that this will likely not matter.
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Jybrael
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September 30, 2014, 09:03:56 AM |
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I have done a little bit of research on using Farms but I don't know whether or not they are worth investing in to get bitcoins or not..because as the difficulty increases so does the profit margin decrease, right? Can someone explain this to me a bit..
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noviapriani
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September 30, 2014, 09:41:30 AM |
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How much you wanna bet those were the BFL orders that people have been waiting for all this time lol. Imagine that? Those 3 guys are lucky though, wish I had that many miners
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Ruthful
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September 30, 2014, 10:22:01 AM |
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They're making a lot less than $200,000 per month now.
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Unbelive
Full Member
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Activity: 210
Merit: 100
Invest & Earn: https://cloudthink.io
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September 30, 2014, 11:59:25 AM |
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They're making a lot less than $200,000 per month now.
If any profit at all. I guess, they just need to stock some profit in good days for rainy days.
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noviapriani
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September 30, 2014, 12:10:22 PM |
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They could be making 100,000 or they could have bought have made more farms and sold the old miners to keep the profits going.
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Q7
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September 30, 2014, 01:01:45 PM |
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I believe another contributing factor that determines profitability is that spare parts in china are still relatively cheap.
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Undefeatable
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September 30, 2014, 01:50:39 PM |
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I was wondering if they pay electricity more then $200000 now..
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Ruthful
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September 30, 2014, 05:23:10 PM |
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I was wondering if they pay electricity more then $200000 now..
Their electric bill was around $60K/month.
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QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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September 30, 2014, 05:25:21 PM |
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I was wondering if they pay electricity more then $200000 now..
Their electric bill was around $60K/month. Nah, they're stealing electric from their neighbor. The neighbor just thinks his wife is leaving the lights on when she goes out for the day. lol
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Jybrael
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October 03, 2014, 08:19:29 PM |
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But what if the neighbor is an old lady?
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